NEW YORK, Nov. 21, 2022 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Lincoln National Corporation ("Lincoln" or the "Company") (NYSE: LNC). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Lincoln and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 3, 2022, Lincoln issued a press release reporting its financial results for the third quarter of 2022. Among other items, Lincoln "reported a net loss for the third quarter of 2022 of $(2.6) billion, or $(15.17) per diluted share available to common stockholders, compared to net income in the third quarter of 2021 of $318 million, or $1.68 per diluted share available to common stockholders." Lincoln also reported that it "incurred a $634 million goodwill impairment to the life insurance business."
On this news, Lincoln's stock price fell $17.27 per share, or 33.15%, to close at $34.83 per share on November 3, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP